VYRD filed a homeowners rate and rule update in Florida that would reduce overall premiums by 10.4%, while making significant adjustments to individual coverage components and rating factors.

According to the filing, submitted on June 12, 2026, the proposed changes would take effect May 15, 2026, for new business and July 15, 2026, for renewals.

VYRD proposed no change to hurricane rates despite an indicated increase of 1.7%, while seeking a 38% increase for non-hurricane wind coverage. At the same time, the company proposed reducing water coverage rates by 32.5% and all other peril rates by 37.5%. Combined, these adjustments produce the overall rate reduction.

The insurer reported that the homeowners program represented approximately 26,751 exposures and $113.9 million in earned premium, including fees, based on experience through June 30, 2025.

Beyond base rates, VYRD is proposing several underwriting and discount changes. The company plans to:

• Reduce age-of-roof factors for homes with roofs aged one to three years.
• Lower the personal property replacement cost surcharge from 10% to 5%.
• Increase the claim-free discount from 5% to 10%.
• Increase discounts associated with limited water coverage endorsements.
• Increase the preferred contractor endorsement discount from 5% to 10%.
• Update actual cash value roof factors for hurricane coverage based on a review of State Farm’s approved factors.

The filing also indicates that VYRD used the RMS North Atlantic Hurricane Model version 25 to develop hurricane loss estimates and stated that its reinsurance program provides protection for a hurricane event with a modeled return period of approximately 1-in-248 years.